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Diamond Bank Plc has been appointed by the Lagos State Government as an agent for the collection of land use charge in the state, thereby providing residents more outlets for payment of the charges which came into force in the state 12 years ago.
The land use charge law became effective in 2001 when the state House of Assembly replaced all existing state and local government taxes on real estate bringing them all under one law.
A statement by Mrs. Ayona Trimnell, Head Corporate Communications of Diamond Bank said going by the appointment, property owners in the state can now remit land use charge to the state government through the bank.
According to the law, all properties in the state are subjected to the land use charge with the exemption of those owned by the government or by religious or charity organisations.
The bank promised to deploy its modern infrastructure to ensure quick and efficient issuance of e-receipt on all payments made anywhere across the state.
Under the law, property owners are afforded only one month of grace from the date the demand notice is served to pay up the charge or face penalties from the government for evading payment.